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Orion Energy Systems, Inc. - OESX STOCK NEWS

Welcome to our dedicated page for Orion Energy Systems news (Ticker: OESX), a resource for investors and traders seeking the latest updates and insights on Orion Energy Systems stock.

Orion Energy Systems, Inc. (NASDAQ: OESX) is a leading developer, manufacturer, and seller of energy-efficient LED lighting and energy management systems. Headquartered in Manitowoc, Wisconsin, Orion has successfully positioned itself at the forefront of the clean tech industry, transforming commercial and industrial buildings with state-of-the-art lighting solutions.

Core Business Segments

  • Orion Services Group (OSG): The company's primary revenue generator, dedicated to developing and selling advanced lighting products, construction, and engineering services for commercial lighting and energy management. OSG also provides maintenance, repair, and replacement services for lighting and related electrical components.
  • Orion Distribution Services Division (ODS): Focuses on distributing Orion’s lighting and energy management products through various channels.
  • Orion U.S. Markets Division (USM): Specializes in serving U.S.-based customers with a wide range of lighting and energy solutions.
  • Orion Electric Vehicle Charging Systems: Focuses on providing comprehensive EV charging solutions, including Level 2 and Level 3 chargers, through its Voltrek division.

Recent Achievements and Projects

Orion has recently reported significant growth in its fiscal 2024 third quarter, with revenue increasing by 28% to $26.0 million. Key drivers include large LED lighting projects and an increase in maintenance services revenue. Orion's CEO, Mike Jenkins, highlighted ongoing projects such as a large European retrofit, external lighting for a major customer, and multiple endeavors for national retail and logistics clients.

In addition, Orion's Voltrek division has secured contracts worth over $11 million for EV charging solutions under the Eversource “EV Make Ready” program, showcasing the company's strong market position and commitment to sustainable infrastructure.

Financial Health

Despite a net loss in fiscal 2024, Orion's financial outlook remains positive. The company ended the third quarter with $45.7 million in current assets and a working capital of $15.0 million. Orion generated $1.0 million in operating cash during the quarter, reflecting robust operational performance.

Commitment to Sustainability

Orion is dedicated to operating responsibly across all areas of its organization. The company’s initiatives in energy efficiency and clean tech solutions aim to help customers achieve their business and environmental goals, reduce their carbon footprint, and enhance business performance.

Learn more about Orion Energy Systems and its ESG priorities, goals, and progress on their website.

Rhea-AI Summary

Orion Energy Systems (NASDAQ: OESX) will host a conference call and webcast on February 9, 2022, at 10:00 a.m. ET to review its fiscal 2022 third quarter results. The financial results will be released prior to the market opening on that day. Investors can join the call by dialing (877) 754-5294 for U.S. participants or (678) 894-3013 for international access. An audio replay will be available shortly after the call through February 16, 2022.

Orion specializes in LED lighting systems and energy-efficient solutions, helping customers reduce their carbon footprint.

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Orion Energy Systems (OESX) announced preliminary revenue expectations of approximately $30.5 million for FY 2022 Q3, ending December 31, 2021. This is a decrease from previous estimates of $150 million to $130 million for the fiscal year due to customer project delays linked to supply chain disruptions and COVID-19 impacts. Despite this, Orion expects an 11% revenue growth over FY 2021’s $116.8 million. The company remains confident in its long-term growth strategy, aiming for $500 million in annual revenue in five years, supported by a $17 million cash position.

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Orion Energy Systems (NASDAQ: OESX) announced the acquisition of Stay-Lite Lighting, enhancing its Maintenance Services business. This strategic move adds high-profile retail clients and self-performing capabilities across 15 states, bolstering the company's service network.

The acquisition is expected to accelerate Orion's growth in recurring revenues by leveraging Stay-Lite's 50 years of industry experience, thus expanding the scale and quality of its offerings.

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Orion Energy Systems (NASDAQ: OESX) announced its Board of Directors has decided to let its shareholder rights plan expire on January 7, 2022. CEO Mike Altschaefl stated that the expiration reflects the company's current profitability and solid growth, deeming the plan unnecessary. Originally implemented in 2009 to protect against hostile takeovers, the board believes that Orion’s improved financial performance justifies this decision. The company specializes in energy-efficient LED lighting and IoT systems, aiming to help clients reduce energy consumption and carbon footprints.

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Orion Energy Systems reported strong Q2 2022 results, with revenues rising to $36.5M, up 38.9% from $26.3M in Q2 2021, primarily driven by national account projects. Gross profit improved to $10.8M, with a gross margin of 29.5%, aided by a $1.6M employee retention payroll tax credit. Net income reached $3.7M, up from $1.9M in the prior year. Despite supply chain challenges, Orion maintains a solid liquidity position with approximately $40M and anticipates FY 2022 revenues of at least $150M, although risks remain due to economic uncertainties.

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Orion Energy Systems, Inc. (NASDAQ: OESX) announced the appointment of Michael H. Jenkins as Chief Operating Officer (COO), effective immediately. Jenkins has over 25 years of experience in operations and business leadership, previously serving at Bostik, Inc., where he significantly increased revenue and transformed business operations. This management change aims to bolster Orion's growth strategy and operational capabilities. Scott Green has been promoted to President of Orion Services Group, ensuring continuity in leadership for the company's turnkey lighting services.

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Orion Energy Systems, Inc. (NASDAQ: OESX) will host a conference call on November 9, 2021, at 10:00 a.m. ET to discuss its fiscal 2022 second quarter results. The company will release the results prior to the market open, allowing investors to gain insights into its performance. Orion specializes in energy-efficient LED lighting solutions and IoT systems, focusing on project implementation and maintenance to help clients reduce energy costs and environmental impact.

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Orion Energy Systems (NASDAQ: OESX) has announced new LED lighting retrofit projects for two school districts in Long Island, NY, in partnership with Synergy Investment, Inc. This addition brings the total number of lighting projects in the area to four. Collectively, the projects are anticipated to save over 7.2 million kilowatt hours (kWh) annually. The installation of approximately 26,000 Harris LDR LED Troffer Retrofit lighting fixtures will enhance energy efficiency and improve lighting conditions in the schools.

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Orion Energy Systems (NASDAQ: OESX), a leader in energy-efficient LED solutions, will participate in H.C. Wainwright's 23rd Annual Global Investment Virtual Conference on September 13-14, 2021. CEO Mike Altschaefl will present a webcast starting at 7:00 a.m. ET on September 13. Both Altschaefl and CFO Per Brodin will be available for virtual meetings during the conference. Orion specializes in LED lighting systems, IoT solutions, and project management, helping clients lower energy costs and reduce carbon footprints.

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Orion Energy Systems reported strong Q1 2022 results, with revenue reaching $35.1M, a 225% increase from $10.8M in Q1 2021, driven by national account projects. Gross profit surged to $10.2M, yielding a gross profit margin of 29.1%. Net income improved to $2.5M, or $0.08 per share, compared to a loss of $2.2M last year. Orion expects FY 2022 revenue of $150-155M, up at least 28%, supported by diverse opportunities despite possible COVID-19 impacts and supply chain challenges. The company ended Q1 with $15.9M in cash and significant liquidity to support growth.

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FAQ

What is the current stock price of Orion Energy Systems (OESX)?

The current stock price of Orion Energy Systems (OESX) is $0.79 as of December 24, 2024.

What is the market cap of Orion Energy Systems (OESX)?

The market cap of Orion Energy Systems (OESX) is approximately 26.0M.

What does Orion Energy Systems, Inc. specialize in?

Orion specializes in developing, manufacturing, and selling energy-efficient LED lighting and energy management systems for commercial, industrial, and agricultural applications.

What are Orion's main business segments?

Orion's main segments include Orion Services Group (OSG), Orion Distribution Services Division (ODS), Orion U.S. Markets Division (USM), and Orion Electric Vehicle Charging Systems.

What recent projects has Orion undertaken?

Orion is involved in several large LED lighting retrofit projects, including a European retrofit and a major external lighting project. Their Voltrek division has also secured over $11 million in EV charging contracts.

How did Orion perform in its recent financial quarter?

In fiscal Q3 2024, Orion reported a revenue increase of 28% to $26.0 million, driven by large LED lighting projects and an uptick in maintenance services revenue.

What is Orion's approach to sustainability?

Orion is committed to providing energy efficiency and clean tech solutions that help customers reduce their carbon footprint and achieve business and environmental goals. They focus on healthy, safe, and sustainable solutions.

Does Orion offer EV charging solutions?

Yes, through its Voltrek division, Orion provides comprehensive EV charging solutions, including both Level 2 and Level 3 chargers.

What financial health indicators are notable for Orion?

Orion ended Q3 2024 with $45.7 million in current assets and $15.0 million in working capital. They also generated $1.0 million in cash from operating activities during the quarter.

How is Orion expanding its customer base?

Orion is expanding through large national accounts, ESCO partners, and various distribution channels, focusing on delivering high-quality, energy-efficient products and services.

What are Orion's growth prospects for the future?

Orion expects revenue growth of 10-15% in fiscal 2025, driven by LED lighting projects, EV charging solutions, and maintenance services.

How can I learn more about Orion's products and services?

You can visit Orion's website at www.orionlighting.com to learn more about their products, services, and sustainability initiatives.

Orion Energy Systems, Inc.

Nasdaq:OESX

OESX Rankings

OESX Stock Data

26.00M
31.57M
4.07%
47.95%
0.2%
Furnishings, Fixtures & Appliances
Electric Lighting & Wiring Equipment
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United States of America
MANITOWOC